May 5, 2016

TORONTO--NextGear Capital, a Cox Automotive brand, appointed Joe Carusella to National Vice President, Canada Operations. Carusella brings over twenty-one years of experience in the automotive industry.

"We are excited to have Joe join the Canadian operation team in this newly created position" said John Wick, Chief Strategy Officer of NextGear Capital. "Joe's breadth of experience in the industry coupled with his excellent reputation in the business will no doubt add bench strength to our operation in Canada."

"In this newly created role, Carusella will focus on building on the successful momentum of NextGear Capital in Canada, by offering useful client solutions and continuing to diversify into other related industries," said Maria Soklis, President, Cox Automotive Canada. "We are especially pleased with the results that NextGear has delivered in Canada as an industry lending leader and look forward to continuing this positive trajectory into the future."

Carusella, an industry veteran has experience in the areas of operations, sales and finance. Prior to joining NextGear Capital, Joe served as Senior Director at Desjardins Credit Union. He headed up the automotive and durable goods business unit with finance, retail and business development. Additionally, Carusella held the position as Branch Manager and Officer at Automotive Finance Canada (AFC). A native of Montreal, Carusella holds a graduate degree from McGill University in Montreal, Quebec.

In response to his recent appointment, Carusella added, "I am excited to get to work and be a part of a great organization here at NextGear Capital in Canada, and I am truly delighted to be part of a progressive company like Cox Automotive where the opportunity is seemingly unlimited."

NextGear Capital serves more than 23,000 automotive dealers globally with inventory financing services across the United States, Canada, Ireland and the United Kingdom. The company is a part of Cox Automotive, which includes industry-leading brands Dealer Track, vAuto and Manheim. With more than $4.08B U.S. receivables outstanding and over 2 million forecasted vehicle floors in 2016, NextGear Capital has become the global leader in inventory finance for independent auto dealers.

Cox Automotive is a leader in vehicle remarketing services and digital marketing and software solutions for automotive dealers and consumers. Cox Automotive, a subsidiary of Atlanta-based Cox Enterprises, includes Manheim, Autotrader, Kelley Blue Book, and a host of global businesses and brands serving customers such as auto dealers, manufacturers and financial institutions. Headquartered in Atlanta, Cox Automotive employs over 30,000 team members in over 200 locations worldwide. We partner with more than 40,000 dealers and touch over 65 percent of all car buyers in the U.S. with the most recognized brands in the industry. We unite over 20 brands in this space, providing an end-to-end solution to transform the way people buy and sell cars every day.